Multiple Choice
A valuable asset was priced at $1 million in 1995. What should be its nominal price in 2012 if the CPI was 95 in 1995 and 145 in 2012?
A) $0.95 million
B) $1.25 million
C) $1.45 million
D) $1.53 million
E) $1.65 million
Correct Answer:
Verified
Correct Answer:
Verified
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